Annual Report 2014-2015

47 Trill Road, Observatory, 7925 PO Box 154, Observatory, 7935 Tel: +27 (21) 447 6020 Fax: +27 (21) 447 6047 e-mail: [email protected] Annual

PSFA BANKING DETAILS Standard Bank of SA, Thibault Square, Cape Town Report A/c No. 07 089 4159 Branch Code: 02090900 Swift Code: SB ZA-ZA-JJ or donate online: www.psfa.org.za 2014–2015 Registration No: 002-878 NPO/Section 18A Registration No: 930010433 PBO 47 Trill Road, Observatory, 7925 A TRIBUTE TO PO Box 154, Observatory, 7935 Tel: +27 (21) 447 6020 MARK WALKER Fax: +27 (21) 447 6047 e-mail: [email protected] 1954 – 2015 Donation Form

I would like to support the work of the Peninsula School Feeding Association to encourage children to attend school and promote their learning and potential.

❏ I enclose a once-off donation of: R (Cheques must be “Not Negotiable”, & made payable to “Peninsula School Feeding Association”.)

❏ Charge: R to my credit account Master Card ❏ Visa Card ❏ Expiry date: /20 C V V: Signed:

Account No.:

SECTION 18a TAX CERTIFICATES ISSUED ON REQUEST Mark Walker joined the Peninsula School Feeding Association (PSFA) as Director on May 1, 2014. He was diagnosed with pancreatic cancer during January 2015 and sadly passed away ❏ I would like to make a donation, in honour of / in lieu of a gift, for: on May 13, 2015. During his short time at PSFA, Mark’s positive and infectious energy and zest for life inspired Occasion: Name: us all. He was a great visionary and strategist who was extremely passionate about caring for the community in general. He saw no colour or creed differences, only people. Address: Mark was a great leader who never demanded respect but earned it. He led by example. He had no problem rolling up his sleeves and getting down and dirty with the rest of us in the Code: trenches whether it be peeling butternut, cooking meals or carrying pots. Most men would MY DETAILS strive to acquire wealth for themselves but Mark was totally the opposite, always looking to do something to uplift another. Title: Name: Surname: The Board, Management and Staff at PSFA extend our sincerest condolences to his wife Michelle, daughters Robyn and Nichola and the rest of his family - you will always be in our Address: thoughts and prayers. We wish you strength and courage in the years to come. Mark, we and the hungry children on our feeding programme thank you for your invaluable Code: contribution to PSFA. We will continue to strive to live up to your motto: “Don’t stop trying to change the world.” Tel: Email: Rest in Peace Mark - you will be missed! If you would like to remember the Peninsula School Feeding Association in your Will, please contact your executor. Contents

Chairman’s Report 2

Acting Director’s Report 4

Treasurer's Report 6

Operations Manager’s Report 8

Fundraising Manager’s Report 10

Financial Statements

Independent Auditor's Report 14

Statement of Financial Position 15

Statement of Comprehensive Income 16

Statement of Changes in Equity 16

Statement of Cash Flows 17

Notes to the Financial Statements 18

Statement of Financial Performance 21

Statement of Financial Performance 22

Giving Back to the Community 23

Donor Listing 24

PSFA Committee, Members & Staff 32

❝ If you want to eliminate hunger, everybody has to be involved. ❞ ~ Bono ~ Chairman’s Report

Through the hard work of the director and management team, we were very happy this year when the organisation received a level one BBBEE certification. The organisation also appointed an architect for the building of the new warehouse and offices and we cannot wait to start the building project in 2015. On December 10, the PSFA staff and voluntary general committee got together for an end of year party at our offices in Observatory. We took this opportunity to bid farewell to Ton Weber, who served voluntarily on our board for 15 years, and to welcome on board our new voluntary general committee members, Sesi Sekhosana, Pearl Matolwana and Phumelele Ngema. Our director Mark Walker also presented long service awards to our general assistant, David Phillips for 35 years’ service and board members Ton Weber for 15 years’ service and Bill Fowler for 5 years’ service. I want to assure you that with your support we On behalf of the General Committee, I hereby wish to will still be around for many years. We are well aware state that we are deeply honoured to have served this that many households are going through trying times amazing organisation for another year. with job scarcity and retrenchments, the result being In May 2014, we welcomed the appointment of that many of our learners are coming to school in our new director Mr Mark Walker. He brought with him the mornings not having anything to eat. This makes a vibrancy and energy that saw the organisation start learning practically impossible. It has therefore planning to expand into the areas of Early Childhood become incumbent upon us to ensure that we assist Development and Further Educational Training (FET) with the feeding of children at schools wherever we Colleges. His passing in May 2015, left a major void can. YOU CANNOT TEACH A HUNGRY CHILD. in the organisation and the lives of staff to whom he To address the growing demand for the feeding of had become more than just a leader. While his time the learners, it will be necessary for us to step up our with us had been short, the impact of his work was fundraising efforts. We are pleased with the reports greatly valuable to the organisation. from our external auditors showing a healthy growth As promised at the last AGM, we submitted a in our investments. This will ensure that we maintain tender to the Department of Education Western our mandate of feeding the underprivileged and poor. Cape to feed at schools for the next two years. We We are also very fortunate that we have amazing and hope that we will be awarded the tender, as we caring public who are always willing to contribute to know how important it is that the children are fed PSFA. We continue to assure you that 100% of the daily. Meanwhile we are still feeding hungry children contributions received are allocated directly towards throughout the Peninsula and surrounding areas. At feeding. this point we are feeding over 25 000 children while Throughout the years many companies have at school on a daily basis. joined hands with this organisation. During the past

2 financial year we have seen an increase in the number of corporate donors. Many of these companies and individuals have adopted schools and learners and pledged to cover the cost of feeding the entire school or specific learners for an entire year. I would like to thank and congratulate them for their unselfish acts of generosity. Feeding learners in schools helps them to attend school regularly, enhances their concentration, facilitates learning and encourages them to be successful. I would like to thank the director and the staff of PSFA for the great work they are doing. You bring so much joy into the lives and hearts of our learners by making sure that the food is always available to them during the course of the term. You have allowed many of them to become successful and self-supporting adults. A special thank you to Morne Goosen, the whose counsel is greatly valued, and all our donors Finance and Office Manager who once again stepped whether they be companies, individuals, volunteers, in after the passing of the director Mark Walker and interns, parents and members of the community who guided the organisation during the interregnum, as so willingly contribute and donate. May all of you be Acting Director. blessed for your generosity and kindness. My thanks goes out to the following: our auditors for the sterling work they have done for so many Yusuf Kader years, the management and committee members Chairman

3 Acting Director’s Report

Progress has been made regarding our newly acquired property in Sheffield Park. I am delighted to announce that all the building plans submitted for approval were approved. We now await proposals from various interested builders in response to the tender that we put forward. We anticipate the construction of our new building to begin during the next financial year.

New Horizons

During the past financial year, PSFA started feeding at Early Childhood Development Centres (ECD). This sector has always been very important to us, as the development here lays a foundation for the child’s learning and development abilities at school. In partnership with Sozo Foods, PSFA was able to - with the inclusion of the Sozo Maize Meal into We are happy to reflect on another year of continued our menu - supply a child with 83% of the daily change, highs and lows while remaining committed recommended allowance (RDA), instead of the normal and honoured to serve the many underprivileged 33% that our current menu provides. We were very children on our feeding programme. excited about this and started two model options: The first being a social enterprise initiative with Government subsidised ECD’s, and the second Warehouse & Logistics model being a two year pilot in partnership with Elgin Learning Foundation with 12 unregistered ECD’s. In the past year, the Peninsula School Feeding Association The staff at PSFA attended a strategic planning (PSFA) continued to develop its warehousing strategies session during June. This equipped all of us with a and protocols, resulting in successfully being able to clear plan of where we as an organisation are going meet the delivery demands of feeding over 25 000 and a road map on how to get there. We left with children while at school on a daily basis. Our warehouse the clear understanding of each other roles at PSFA, staff embarked on various courses and programmes, striving to deliver a service above and beyond any to streamline our effectiveness in delivering a quality other. service. These included hyster training, where even our admin ladies are now able to assists with loading, and Pastel training. Staff Changes PSFA expanded its fleet of delivery subcontractors. In demonstrating our support and commitment Charles Grey joined our team as the Fundraising to enterprise development, we appointed a small Manager on April 1, 2014 and Mark Walker as our delivery company. Director on May 2, 2014.

4 PSFA’s Operations Administrator Amelia Koeries, I am happy to report that preparations for the was appointed as Operations Manager at the start of new upcoming National School Nutrition Programme the financial year. tender has begun. Chantal Crook joined PSFA during February 2015 as our Donor Administrator to assist Charles with Fundraising. Conclusion The following interns joined us within the financial year for short periods: A special word of thanks goes to all our donors, large • Ncedu Vutela – Digital Marketing Intern and small for your generous and caring support of • Zaira Abril – a Spanish business student who the children we feed. We appreciate your loyalty and assisted with various marketing activities and the assure you of our ongoing commitment to feeding building of relationships with potential donors in children in need. Europe To all our suppliers, we thank you for your • John Karllson – a Swedish human rights constant commitment and willingness to go the extra student who assisted with proposal writing and mile when called upon, to ensure our children get fed developing relationships with potential donors in timeously and on every school day. Europe I would like to take this opportunity to thank all the • Katia Arendz – a human rights student staff at PSFA – new, old and those that have moved from France who assisted with developing on. Your daily input, dedication and determination relationships with potential donors in Europe. has been the driving force that has ensured that all During January 2015 we received tragic news, Mark the children on our feeding programme, received the was diagnosed with cancer. He sadly passed away on best possible service and products each and every May 13, 2015. During his short tenure at PSFA, he school day. Working with you is a privilege! left a legacy and as quoted at his eulogy “Turned a In closing, I would also like to extend my sincerest staff complement of 15 individuals feeding children, thanks to our voluntary Management Committee for into a family of 15 members feeding hungry children, their unbridled strategic support and expertise. with him being the perfect father figure.” Morne Goosen Acting Director The Future ❝ With our committee being well aware of Mark’s When a great man illness, interim plans were made with Mark’s input to appoint his replacement. dies, for years the As previously mentioned we look forward to the new warehouse/office facility that will be completed light he leaves in the next financial year. behind him, lies on PSFA continues to develop relationships with new donors and to identify social enterprise opportunities the paths of men. ❞ that will contribute to the sustainability of the organisation. ~ Henry Wadsworth Longfellow ~

5 Treasurer’s Report

although less than the previous year is still adequate cover for the Association’s Operating Expenses of R4 120 541. This allows PSFA to adhere to the contention that 100% of all donations are allocated directly to school feeding. • The nett income from our generous and dedicated donors (excluding Trusts & Legacies) amounted to R 6 091 530. • The income received regarding sponsorships for our various fundraising events amounted to R1 019 792. The total income from donors and sponsors compared to the previous financial year showed an increase of 17.13%. • Income from supply of Equipment to schools amounted to a mere R38 103 – a decrease of 86.74% this mainly due to the effect of supplying equipment to NSNP schools for the first three months of the 2013/14 financial year. Suppliers early settlement discount (Set off against Direct Feeding Cost) amounted to R410 296 - an It is with great pleasure that I report on the financial increase of 25%. The biggest contributor to this figure accounts of the Association for the year ending 31 is an amount of R358 189 received from one single March 2015 supplier and is the result of stringent negotiations. The continuous increase in living cost is affecting more and more South Africans daily and based on Expenditure this challenge, the Association needs to position itself • The food expenditure for the financial year to ensure that hungry children are being fed within amounted to R10 677 519 – an increase of the financial capabilities of the Association. 0.15%. The inclusion of the cost of supplementary Despite the above mentioned situation, the feeding of 12 847 learners during the first few number of children fed has increased from just over months of the previous financial year amounting 21 000 reported in my previous report to 25 500 as to R1 027 760 skews the comparative numbers. at 31 March 2015. Should this supplementary feeding cost be excluded from the last year’s comparative figures then the increase of computes to 9.71%. This FINANCIAL CONSIDERATIONS increase is most satisfactory taking into account our learners fed have increased by 21.42% from Income 21 000 to 25 500. • Income from Interest, Trust & Legacies amounted The above feeding costs includes a stipend paid to R 8 053 089 – a decrease of 7.74%. Included to our dedicated volunteers and amounts to in this figure is Interest & Dividends from our R1 704 150 and contributes to 15.96% of the investments amounting to R6 064 512 which, total feeding cost.

6 • Cost of equipment to schools amounted to GENERAL R98 328 and exceeds the income for equipment by R60 225.00. The reason for this is that PSFA The current year loss incurred is R750 793 lower supplies equipment, at no cost, to new schools than last period. The major effect of this being an coming onto the programme. increase in collections/donations together with an • The cost of our Fundraising expenses amounted offset of increase in operating expenses and lower to R1 370 988 - an increase of 1.90% year investment revenue against feeding operations. on year and exceeding sponsorship income by I take this opportunity to thank all the dedicated 34.43%. The sole contributor to this shortfall is and caring PSFA staff for their efficient service to the due to our flagship fundraising event Blisters for Association and the many children that are fed every Bread where the sponsorship received was not school day. I would also like to express my sincere covering the cost of the events related expenses. appreciation to my fellow members of the voluntary This shortfall can however be compared to the Management Committee for their continued support cost savings on the PR value we received from as Honorary Treasurer. free advertising, television interviews which can be valued in the region of R2 million. Bill Fowler • The Operating expenses of the Association Honorary Treasurer amounted to R4 120 541 which is 13.32% higher than the previous year. 7.06% of the 13.32% increase relates to rates and taxes on our newly acquired property at Sheffield Business Park together with costs of upgrading our computerised donations module from an in- house system to the Salesforce online platform. The Operating Expenses represents 25.33% (6.72% 2013/14) of total expenditure.

7 Operations Manager’s Report

in our society at large. Therefore PSFA will continue to strive to eradicate short term hunger in our schools across the Western Cape.

Our Breakfast Programme In 2010, PSFA piloted a breakfast programme with 20 of our schools, supplying them with maize meal, sugar and salt for two days a week. The meal which is served between 07:30 and 08:00 became a vital part of our feeding programme. At present, 90% of the schools on our database are now on our daily breakfast programme. Schools have reported that the breakfast programme has played a vital role in decreasing late arrivals as children rush to be first in line for their warm cereal.

PSFA Warehouse In 2013, we took the bold step towards managing our own warehouse. We employed a manager, supervisor, PSFA has indeed had an eventful and challenging year. two clerks and four packers and pickers. In July Not having the National Schools Nutrition Programme 2014, the manager resigned and with the support (NSNP) tender, meant that 12 000 learners were no of the supervisor, we have been able to manage the longer receiving the supplementary feeding we were operation of the warehouse efficiently. Warehouse providing at some schools across the Western Cape. staff underwent hyster training and are qualified to operate the hyster. Together as the operations team, we strive towards improving the supply chain IMPLEMENTATION AND MONITORING management to continue delivering a first class service. Our Field Workers Our field workers continued to monitor our feeding June Holiday Programme programme at all our schools. They conducted site In partnership with the Anglican Church Diocese of visits at schools at least twice per term checking on False Bay, PSFA provided feeding for 8 000 children stock usage, numbers fed and menus prepared daily. for ten days of the three week school holiday. PSFA With the continuous monitoring, we were able to ensure supplied the food whilst the Diocese provided a daily minimal stock wastage and that meals were prepared programme with curriculums and teaching aids. and served as per guidelines set in hygienic conditions. During this programme, learners were kept busy Our field workers were mandated to identify schools and off the streets with activities and games. This that were not on any feeding programme resulting in partnership has been in place since 2010 and has a total of nine schools joining our programme during seen the numbers grow from strength to strength. 2014. It is evident that the need for school feeding is We also fed an additional 500 learners for five growing exponentially due to the rise in unemployment days in collaboration with the Milnerton Police Forum.

8 NEW VENTURES In October 2014, we entered into a partnership with Elgin Learning Foundation (ELF) to provide Orphans and Vulnerable Children feeding support to 12 unregistered ECD’s in the With our new director, Mark Walker at the helm, we Grabouw area. Sozo Foods joined the initiative by ventured into a few new avenues of feeding. We providing fortified maize meal which increases collaborated with NACCW (National Association of the daily RDA of a child from 33 % to 83%. This Child care Workers) with their Isibindi Project that partnership will also entail a two year study on the creates safe parks. This project is an aftercare school impact made by PSFA menu on the general health of programme where children from various schools a child during early development stages. gather at safe havens where youth care workers assist them with homework, computer training etc. MOD Centres (Mass Opportunity Development) PSFA joined the initiative to ensure that children During October of 2014, we submitted a proposal to the would receive a cooked meal in the afternoon before Department of Cultural Affairs & Sport to feed at MOD going home. We now have the reassurance that centres across the Western Cape. These programmes through our partnership with Isibindi ‘safe parks’ are run as an after school programme providing project, 370 learners are receiving three cooked mass participation opportunities for disadvantaged meals a day and are not going to bed hungry at night. communities offering skills development and revitalised school sports. PSFA’s proposal received a positive ECD’S (Early Childhood Development Centres) response. Unfortunately during March of 2015, we Mark also had a passion to take our feeding received word that the Department was unable to roll programme into the ECD arena. PSFA started to pilot out the programme, due to the lack of funding. We hope a one year social enterprise initiative by providing to pursue this avenue of feeding when funds become a service to funded ECD’s to purchase their meals available. from PSFA. A presentation was made to various ECD In conclusion, I would like to take this opportunity forums across the Western Cape. It was adopted to thank our loyal donors for their generous support. by four ECD’s in Khayelitsha, one in Lwandle and It is thanks to them, that PSFA can continue feeding three in Ceres. Due to portion control issues and the hungry children at schools on a daily basis. need for more variety in the meals provided, all the ECD’s excluding the ones in Ceres, decided exit the AMELIA KOERIES programme. Operations Manager

9 Fundraising Manager’s Report

Social Feed To raise additional funding to feed the children at schools on our programme in a unique way, award winning digital marketing agency, Hellocomputer, created an outstanding and innovative new media platform called Social Feed (www.socialfeed. co.za). This initiative sponsored by Hellocomputer, encourages people to feed hungry school children by doing something they already do every single day, share content on Social Media. Each time someone shares a piece of brand content to their Facebook or Twitter pages, the brand gives a portion of money to the PSFA to feed hungry children. This happens until the brand’s media budget is up. So, the brands get exposure, people get a say in who gets space on their newsfeeds, and the PSFA gets to feed children in need.

I had the pleasure of joining the Peninsula School Feeding Association (PSFA) as fundraising manager on April 1, 2014. Later on during the financial year under review, we welcomed on board our new donor administrator, Chantal Crook. The past financial year was a busy, exciting and interesting one for the fundraising department at PSFA. Many unique fundraising and marketing projects took place. Before I start highlighting a selection of these, I would like to take this opportunity to extend our heartfelt gratitude to the many individuals, companies, trusts, foundations, churches, clubs and schools for the generous support of the work we do. PSFA is proud of the fact that 100% of all financial donations we received, were allocated to the feeding of the 1000’s of hungry school children on our programme. Here are some of the exciting and unique fundraising and marketing activities that took place during this past financial year:

10 New Customer Relationship Management (CRM) System As part of PSFA’s strategy to streamline communications with our donors, potential donors as well as the schools on our feeding programme, PSFA decided to replace our antiquated database management software with the internationally acclaimed cloud based CRM System called Salesforce. This system was applied during September 2014 and has to date proved to be successful. New website We are proud to have launched our new website in Blisters for Bread Family Charity Fun Walk May 2014. With a fresher and more modern look, this 12 741 walkers participated in our 46th Blisters for WordPress site is designed to showcase our PSFA Bread Charity Family Fun Walk in association with initiatives, house all kinds of interesting content, and SPAR that took place at Green Point Cricket Club on make it easy for people to donate, safely. Sunday 25 August. This popular annual event which Working across mobile, tablet and desktop, people has grown from strength to strength, raised a total can keep up to date on our latest news and events. of R637 050. This amount enabled PSFA to provide They can also enjoy the emotive photography and 1 613 hungry children with a nutritious cooked strong calls to action, making navigation clear and breakfast and lunch while at school for an entire year. simple. More importantly, it puts the children at the real heart of the site, always reminding people what’s important – helping to ensure that we can continue to provide hungry school children with nutritious meals. If you haven’t seen our new website yet, visit it today at www.psfa.org.za ❝ Charity is simply giving someone crumbs off your table. Justice is giving someone a seat at your table.❞ ~ Jenny Yang ~

11 M-KEM Food for Thought Campaign from an estate agency, they will provide PSFA with In celebration of M-KEM City’s 50th anniversary funding to feed one hungry child at a school in the and the owner and founder of M-KEM City, Mr greater Cape Town area for a period of six months. Hylton Mallach’s 75th birthday, M-KEM selected During the year under review, Miltons Matsemela PSFA as the beneficiary of a fantastic fundraising donated a phenomenal amount of R310 600. This and awareness campaign called Food for Thought. partnership clearly illustrates how the business sector The campaign organized and marketed extensively can play an essential role in reducing short term by M-KEM, included a host of fundraising activities hunger at schools. Thank you Miltons Matsemela! for PSFA as well as providing selected schools on our feeding programme with much needed kitchen Avontuur Estate Cape Fillies Guineas equipment. M-KEM even donated a pair of brand new Avontuur Estate and Western Province Racing shoes to every learner at one of the extremely poor selected PSFA as the charity partner for Gr 1 schools on our programme. Avontuur Estate Cape Fillies Guineas horse race that The campaign concluded with a fantastic party took place at Kenilworth Racecourse on Saturday 6 at M-KEM City on October 11, where Mr Mallach December 2014. PSFA was presented with a cheque presented our Chairman, Mr Yusuf Kader and for R100 000 on the day. Director, Mark Walker with a cheque for R200 000. We are truly grateful for M-KEM’s support and wish GetSmarter Row-A-Thon this wonderful company all the best for the future! The staff at GetSmarter, an online education company, organized a Row-A-Thon at their offices and managed Miltons Matsemela to raise and donate R50 000 to be used to feed all As part of their social outreach programme, property the learners on our feeding programme at Lotus High law and conveyancing company, Miltons Matsemela School for a year. committed to a long term cause related marketing partnership with PSFA. The partnership entails that CHARLES GREY for every property transfer instruction they receive Fundraising Manager

12 13 Financial Statements

SPRIGG ABBOTT INCORPORATED CHARTERED ACCOUNTANTS (SA) REGISTERED AUDITORS

Sprigg Abbott House, Centurion Business Park, Bosmansdam Road, Milnerton, 7441, South Africa Private Bag X22, Milnerton, 7435, South Africa Tel: +27 (0)21 552 5599 Fax: +27 (0)21 552 5544 email: [email protected] Web: www.sprigg.co.za

Directors: PJ Chong B Com(Hons), CA(SA); DM Barnes CA(SA); M Mulder B Acc, B Compt(Hons), CA(SA) Consultant: LE Norman B Com, CA(SA) Assisted by: RE Norman B Com, CTA, Member of SAIPA; JJ Smith B Econ Registration Number 2003/023087/21 14 STATEMENT OF FINANCIAL POSITION 2015 2014 for the year ended 31 March 2015 Note(s) R R r

Assets Non-current assets Property, plant and equipment 2 4 807 878 4 822 466 Investments 3 102 764 358 101 719 846 107 572 236 106 542 312

Current assets Inventories 4 959 975 868 359 Trade and other receivables 1 137 223 873 934 Cash and cash equivalents 5 52 298 2 197 070 2 149 496 3 939 363 Total Assets 109 721 732 110 481 675

Equity and Liabilities Equity Retained income 109 295 767 110 360 629

Liabilities Current liabilities Trade and other payables 425 965 121 046 Total Equity and Liabilities 109 721 732 110 481 675

15 STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME 2015 2014 for the year ended 31 March 2015 Note(s) R R r

Revenue 6 9 138 002 45 857 822 Cost of sales 7 (12 146 835) (50 432 421)

Gross loss (3 008 833) (4 754 599) Operating expenses (4 120 541) (3 636 273)

Operating deficit 8 (7 129 374) (8 210 872) Investment revenue 9 6 064 512 6 395 217

Loss for the year 8 (1 064 862) (1 815 656) Other comprehensive income 9 – –

Total comprehensive loss for the year (1 064 862) (1 815 656)

STATEMENT OF CHANGES IN EQUITY Retained income Total equity for the year ended 31 March 2015 R R r

Balance at 01 April 2013 112 176 284 112 176 284 Loss for the year (1 815 655) (1 815 655) Other comprehensive income – –

Total comprehensive loss for the year (1 815 655) (1 815 655)

Balance at 01 April 2014 110 360 629 110 360 629 Loss for the year (1 064 862) (1 064 862) Other comprehensive income – –

Total comprehensive loss for the year (1 064 862) (1 064 862)

Balance at 31 March 2015 109 295 767 109 295 767

16 STATEMENT OF CASH FLOWS 2015 2014 for the year ended 31 March 2015 Notes R R r

Cash flows from operating activities Cash (used in) generated from operations 11 (7 114 881) 8 555 202 Interest income 5 762 816 6 094 130 Dividendes received 301 696 301 087

Net cash from operating activities (1 050 369) 14 950 419

Cash flows from investing activities Purchase of property, plant and equipment 2 (49 891) (4 716 121) Increase in investments (1 044 512) (8 159 718)

Net cash from investing activites (1 094 403) (12 875 839)

Total cash movement for the year (2 144 772) 2 074 580 Cash at the beginning of the year 2 197 070 122 490

Total cash at end of the year 5 52 298 2 197 070

17 NOTES TO THE FINANCIAL STATEMENTs 2015 2014 for the year ended 31 March 2015 R R r

2. Property, plant and equipment 2015 2014 Cost Accumulated Carrying Cost Accumulated Carrying depreciation value depreciation value Land and buildings 4 686 486 – 4686 486 4 686 486 – 4 686 486 Furniture and fittings 103 873 (95 803) 8 070 103 873 (82 720) 21 153 Motor vehicles 131 330 (73 833) 57 497 131 330 (41 001) 90 329 Office equipment 95 484 (95 477) 7 95 484 (95 477) 7 IT equipment 368 468 (314 148) 54 320 321 570 (297 081) 24 489 Computer software 57 395 (55 897) 1 498 54 403 (54 401) 2 Total 5 443 036 (635 158) 4 807 878 5 393 146 (570 680) 4 822 466

Reconciliation of property, plant and equipment – 2015 Opening balance Additions depreciation Total Land and building 4 686 486 – – 4 686 486 Furniture and fittings 21 153 – (13 083) 8 070 Motor vehicles 90 329 – (32 832) 57 497 Office equipment 7 – – 7 IT equipment 24 489 46 899 (17 068) 54 320 Computer software 2 2 992 (1 496) 1 498 4 822 466 48 891 (64 479) 4 807 878

Reconciliation of property, plant and equipment – 2014 Opening balance Additions depreciation Total Land and building – 4 686 486 – 4 686 486 Furniture and fittings 38 468 – (17 315) 21 153 Motor vehicles 123 162 – (32 833) 90 329 Office equipment 118 – (111) 7 IT equipment 2 956 29 635 (8 102) 24 489 Computer software 9 – (7) 2 164 713 4 716 121 (58 368) 4 822 466

Details of properties Erf 94 To the extent of 6638 sqm, situated in Springfield, Landsdowne – Purchase price: 22 October 2013 4 646 600 4 646 600 – Attorney and transfer fees 39 886 39 886 4 686 486 4 686 486

18 2015 2014 R R

3. Investments The association held the following investments at cost: Investec PB investment portfolio 12 086 887 11 360 946 Dorhur (Pty) Ltd 420 000 420 000 Funds on deposit 6 527 765 11 114 725 Stanlib investment portfolio 12 774 055 12 106 831 Mining rights 1 1 Alan Gray investment portfolio 13 151 563 12 676 824 Momentum investment portfolio 43 404 41 362 Coronation investment portfolio 57 760 683 53 999 157 102 764 358 101 719 846

The market value of the Stanlib investment portfolio at year end was R 12 945 322 (2014: R 12 353 128). The market value of the Alan Gray investment portfolio at year end was R 19 887 180 (2014: R 18 738 786). The market value of the Coronation investment portfolio at year end was R 61 294 263 (2014: R 56 815 037).

4. Inventories Food and cooking utensils to be distributed to schools 959975 868 359

5 Cash and cash equivalents Cash and cash equivalents consist of Cash on hand 15 431 9 467 Banks balances 36 857 2 187 603 52 298 2 197 070

6. Revenue Collections/Donations 7 149 425 6 356 605 Legacies 1 231 570 1 195 357 Trusts 757 007 1 138 096 NSNP Grant – 37 167 764 9 138 002 45 857 822

7. Cost of sales Direct feeding costs 10 677 519 48 944 251 Project and fundraising costs 1 469 316 1 488 170 12 146 835 50 432 421

19 2015 2014 R R

8. operating deficit Operating deficit for the year is stated after accounting for the following: Depreciation on property, plant and equipment 64 479 58 368 Employee costs 2 861 006 2 858 791 Research and development costs – 11 404

9. investment revenue Dividend revenue Investments 301 696 301 087

Interest revenue Financial Institutions 5 762 816 6 094 130 6 064 512 6 395 217

10. auditors’ remuneration Fees 70 000 66 000 Other services 7 544 2 336 77 544 68 336

11 Cash (used in) generated from operations Loss before taxation (1 064 862) (1 815 655) Adjustments for: Depreciation and amortisation 64 479 58 368 Dividends received (301 696) (301 087) Interest received (5 762 816) (6 094 130) Changes in working capital Inventories (91 615) 2 047 093 Trade and other receivables (263 288) 18 616 847 Trade and other payables 304 917 (3 956 234) (7 114 881) 8 555 202

12. Commitments Operating leases Minimum lease payments due – within one year 470 998 589 107 – in second to fifth year inclusive – 470 998 470 998 1 060 105

20 STATEMENT OF FINANCIAL PERFORMANCe 2015 2014 for the year ended 31 March 2015 Notes R R r

Revenue Collections/Donations 7 149 425 6 356 605 NSNP Grant – 37 167 764 Trusts 1 231 570 1 195 357 Legacies 757 007 1 138 096 6 9 138 002 45 857 822

Cost of sles Direct feeding costs (10 677 519) (48 944 251) Project and fundraising costs (1 469 316) (1 488 170) 7 (12 146 835) (50 432 420)

Gross loss (3 008 833) (4 574 499)

Other income Dividends received 9 301 696 301 087 Interest received 9 5 762 816 6 094 130 6 064 512 6 395 217

Expenses (Refer to page 20) (4 120 541) (3 636 273)

Loss for the year (1 064 862) (1 815 655)

21 STATEMENT OF FINANCIAL PERFORMANCe 2015 2014 for the year ended 31 March 2015 Notes R R r

Operating expenses Advertising (30 581) (1 491) Auditors' remuneration 10 (77 544) (68 336) BBBEEE Enterprise Development (32 895) – Bank charges (43 771) (53 159) Cleaning (19 325) (8 275) Computer expenses (83 403) (46 419) Consulting and professional fees (82 911) (73 719) Depreciation, amortisation and impairments (64 479) (58 368) Employee costs (2 861 006) (2 858 791) Entertainment (6 435) (13 146) Insurance (31 281) (32 992) Legal expenses (53 922) (54 817) Motor vehicle expenses (26 891) (25 453) Municipal expenses (53 884) (47 537) Postage (9 132) (2 360) Printing and stationery (75 735) (66 093) Protective clothing (13 840) (1 090) Repairs and maintenance (26 383) (16 542) Research and development costs – (11 404) Security (5 739) (5 237) Sheffield park expenses (206 870) (28 014) Staff recruitment (15 262) (43 504) Staff welfare (43 438) (30 416) Telephone and fax (73 210) (53 019) Training (182 604) (36 091) (4 120 541) (3 636 273)

22 Giving Back to the Community

Every now and then, PSFA accumulates excess food • Harvest Time Christian Fellowship stock, especially fruit and vegetables. These items • Hope Community Development Project are distributed to various community projects that • House of Grace Community Church provide meals. • Noma’s Baby Care During the year under review, PSFA distributed • Phandulwazi Educare Centre excess food to the following organisations: • Rose Upliftment Services • Baviaanskloof Community Feeding Scheme • Place of Hope Shelter for Abused Mothers • Cape Town Multi-Service Centre • Sinako Children’s’ Home

23 Donor Listing

Our grateful thanks to…

COMPANIES HB AIR CONDITIONING HEAT PUMP INTERNATIONAL CC ABERCROMBIE & KENT HERO FUELS ALFONS HAAR SA I Q S INT. (PTY) LTD. ALL PHASE ELECTRICAL IMBHABALA CIVILS CC ALLAN GRAY LTD IMPO DISTRIBUTORS GROUP (PTY) LTD ALPHA PHARM INDEPENDENT NEWSPAPERS APPAREL COMP MNF INDUSTRIAL & DOMESTIC BUILDING PROJECTS ATLANTIC SEABOARD BUSINESS CENTRE INSREP CONSTRUCTION (PTY) LTD AVONTUURSESTATECAPEFILLIESGUINEAS INTERNATIONAL NUTRITION & SPORT SA (PTY) AYLETT & COMPANY INVESTMENT DATA SERVICES BUILDING INDUSTRY BARGAINING COUNCIL JONATHAN SELBY CC CAPE COBBLERS KINETIC ELECTRONIC DESIGN CAPE TOWN PLUMBING CC KLIPVLEI BROILERS CCIT KMH ARCHITECHTS CHAIR CRAZY KURGAN KENANI LEATHER (PTY) LTD. COLTRADE INTERNATIONAL LAFFORT SA COMMUNICARE NPC LARIAN PAPER CONVERTERS CC CORONATION ASSET MANAGEMENT LEAKFIND CRAWFORD CARPETS & BLINDS CC LEWIS STORES CRYSTAL COURIERS CC LIFSON PRODUCTS DARCON CONSTRUCTION LOVE TO DO GOOD DR REDDY’S LABS (PTY) LTD MARY MOIR CONSULTING ERASMUS SA MAZISTA CAPE (PTY) LTD EXPLOSIVE FUNCTION FITNESS BOOTCAMP LTD MEDICHEM (PTY) LTD FAIR CAPE DAIRIES (PTY) LTD MEDPRO PHARMACEUTICALS FCS PIPING MEREDITH HARINGTON FINANCIAL SERVICES [email protected] METCON FORMS MEDIA INDEPENDENT MILTONS MATSEMELA FRAMEDMASTERGILDERS+FRAMERS MINERALE DIENSTE BELEGGINGS FRESH ADVERTISING & MARKETING M-KEM FUTUREGROWTH ASSET MANAGEMENT OPTIMIN MINERALS (SA) GET ORGANISED PATHOGEN & ENVIRONMENTAL SOLUTIONS GETSMARTER PERMANENT TRUST PROPERTY GROUP GINSBURGPRIVATEWEALTH PETER GILDER JEWELLERY GLENKEY CONSTRUCTION (PTY) LTD. PICK N PAY GLOBAL GRINDERS PINELANDS DEVELOPMENT GLOBAL TELEMATICS PREFPAK PLASTICS GOOD HEALTH PRODUCTS (PTY) LTD. PREMIER CONCRETE FLOORS

24 Donor Listing

PROTO TRADING ALICE MATHAI R & L ARCHITECTS CC ALISON GARLICK RIYADH SEAFOOD ALWYN MULLER ROYAL CLASSIC TRADING PTYLTD ANDREW & WENDY SPENCER S A NATURAL PRODUCTS ANDREW DE JONGH SA LITHO ANDREW KEGGIE SA TRAVEL CORP ANDRIES BREYTENBACH SANOFI AVENTIS SA ANDY TUCKER SCULPTURE CASTING SERVICES ANE PARRY SJC LABOUR SOLUTIONS ANGELA FRATER SLOW FOOD CAPE TOWN ANGUS CAMPBELL SUNSHINE COLOURS ANNE ANDERSON TACOMA FOODS ARTHUR SIERRA TARGET CRANES ASHLEY GAVIN FRANK THE COMMUNICATION SPECIALISTS AVISH GORDHAN THE LISA KING COLLECTION B A HARDY THE LISA KING GALLERY BARBARA HEY THE MOSS GROUP BASTIAANSE FAMILY THE PIXEL FOUNDRY PHOTOGRAPHERS CC. BELINDA PAUL THE TOUCH COMPANY BELINDA VAN HEERDEN TRANSPHARM BERTHA OAKER TRUST PROPERTY BLAKE ROBINSON TWIN COATINGS BRAD STEIN UFF AGRI ASSET MANAGEMENT BRIAN MAHACHI VIV GORDON PLACEMENTS BRIAN SPOTTISWOODE VORTEX PIPE WORKS BRIAN WATERMEYER WINE CELLAR CAMILLA LIEKETSENG MALEFANE WRIGHT MILLNERS DENTAL SUPPLIERS CAPE CARIN VAN DER MERWE CAROLE ABRAMOVITZ CAROLE GAMBRELL INDIVIDUALS CHARLES FAIRWEATHER CHARMAINE LANGE A E TIMOL CHRISTIAN HETTLAGE A R WILNOT CHRISTINA PATHER ADOLF J MARS CLAIRE FORRESTER ADRIAN MOPP COENRAAD VISSER ADV P FARLAM CYNTHIA WILLIAMS ALAN HURFORD DALMANE TITTIES ALETTA VISAGIE DAPHNE BOTHA ALEX WHYAT DAVID BASS ALFRED ROSENBERG DAVID DUNTON

25 Donor Listing

DAVID GALLAND FREDA CILLIERS DAVID GLUCKMAN GEOFF MAROCK DAVID KIRSCH GEORGE CURRY DAVID QUERIDO GERRIT HATTINGH DEBORAH KEY GERSHWIN WANNEBURG DEIDRE ANDREWS GIDEON SNYDERS DEIDRE JOHNSON GILLIAN KNIGHT DELIA DE VILLIERS GREGORY COOPER DENVER MILLWARD GWYNETH FOORD DIANA SOCHEN GWYNNITH ROBERTS- BAXTER DIANNE ROBINSON HARSHA LOCHAN DIGBY DE VILLIERS HAYDN BOYES DIRK ELZINGA HEATHER HAYDN DONALD SMITH HEATHER MOORE DOREEN M MILNER HEIN VAN TONDER DR C J VON DER HEYDEN HERTZOG BERZEN DR C REDDY IAN BOWKER DR DARREN LEVIN IAN DICHMONT DR EDWARD ANDERTON IAN MATHESON DR GILLIAN MUDIE IMTIAZ SHAIK DR GREGORY JEMMETT INEZ D GRETTON DR NATASHIA MUNA IRENE BECKETT DR REUBEN GOVENDER IRIS KELLY ATSELL DR SYDNEY WILLIAMS IZABEL LUBBE DUDLEY & THERESA WILLIAMS J KANNEMEYER DUNCAN FORREST JACQUELINE BEKKER DUSTY HOLLOWAY JACQUI FERREIRA ED TEARE JAMES LLOYD ELANA AFRIKA-BREDENKAMP JAMES RUSSELL ELIZABETH BARNETT JAMES SCHUURMANS ELSJE GUTRIDGE JANE LAWRENCE ELSKE SCHABORT JANE NASH EMILY FRATER JANE SMITH ERICA PIETERSEN JANICE RABIE EVERARD MIAS JANINE LOEDOLFF FLORINDO DE NOBREGA JENNY SLADE FRANCES HILLS JILL GRIBBLE FRANCIS MARAIS JILL HOGG FRANCOIS MALAN JOHN DAMMERT FRANK SIMON JOHN ORR FRANS COETZEE JONATHAN MORT

26 27 Donor Listing

JUDGE Y S MEER MR & MRS C SELZER JUDITH THOMSON MR & MRS THOMAS JULANIE BOSHOFF MR A N SPENCER JULIA FOURIE MR A R BURNETT JUSTINE HEIMANN MR B C PRETORIUS KATE REES MR C SCODANIBBIO KAY HORN MR D G WITHEY KEVIN CHARLESTON MR D H GIBB KIKI THEODOSIADIS MR F B PARKER KIRSTI GUTSCHE MR F N KAMINER L LYNERS MR G STREETS L VAN RENSBURG MR J STROMBERG LENORE GREIG MR K ENGELBRECHT LEONARD ABEL MR M I OSBORNE LES DUDDY MR N ROTHLISBERGER LISA BREYTENBACH MR O PEARSON LISA CHAIT MR P H DE VILLIERS LISA DE BEER MR R A ELLIOTT LISA JANAKK MR R L MOLYNEUX LORE-MARIE GULDENPFENNIG MR S WHYTE LUKE DAVIDS MR W FAIRHEAD LYNDSEY KAVALSKY MRS A M CARRICK MANDY HOPWOOD MRS D MCDOUGALL MARGARET ELIZABETH YATES MRS F BEAN MARGARET SPARKS MRS M PONT MARINA STANDER MRS M VLOK MARK TOMLINSON MRS MORAG NAYLOR MARK ZEEMAN MRS P J REYNOLDS MARTYN PAYNE MRS R SCHOLTZ MATTHEW BRITTAN MRS V THOMPSON MAUREEN WOOLDRIDGE MS J E JANTJIES MAYA FISHER-FRENCH MS M PROBYN MICHAEL DAVIES N MAUNDER MICHAEL MALAHE NALEEN JERAM MICHELLE DU PLESSIS NALISHA VADACHALAM MILLANDREWLEE WILLIAMS NATALIE KNOS MIRIAM REGAL NICKI TIFFIN MISS J R EVANS NINA SMIT MISS M RESS P HORN MR & MRS A NIEKERK PAMELA KING MR & MRS C GOODEN PAT KELLY

28 Donor Listing

PATSY FRASER SUSAN SQUIRE PAUL PROZESKY THUTO MAKO PAUL TAULIEN TIMOTHY MILNER PAULA BASSINGTHWAIGHTE TRACY-LEE VENTER PAULL LAWRENCE TRAVIS MANICOM PETER & ANNE COSTELLO TREVOR SMITH PETRA NIJLAND VALERIE ELDER PHILIP HIRSCHSOHN VIRESH RAMBURAN PROF HUGH CORDER VOSENE WITTEN RACHEL GOETSCH WASIEM FRANCIS RALPH DE HAHN WILL WHITE RANDOLPH LEARY WYNAND LOUW REBECCA PETER XANDRA ALEXANDER REBECCA SCHEIN RECARDO MENTOOR RENEE MITCHELL CHURCHES AND CLUBS RIA JACOBA GREEFF RITA MITCHELL CATHOLIC WOMEN’S LEAGUE ROBYN CURKO CHURCH OF THE TRANSFIGURATION ROUZELLE GRYFFENBERG LANSDOWNE BETHEL ASSEMBLY OF GOD ROY ANDREW SILVERMINE VILLAGE CHAPEL ROYSTAN ROMBURGH ST. STEPHEN’S CHURCH PINELANDS RUDI DE KOKER ST. STEPHEN’S WOMEN’S EVENING GUILD RUSHDIA OMAR THE MARION CRISP STUDY CIRCLE RUTH MARY DELSON RUTH MCBRIDE RYAN LINNEGAR TRUSTS SALLY BEKKER SAM & JOY SMITH ALBERT & YVONNE LUND CHARITABLE TRUST SARAH DAVIES BELJAN TRUST SELWYN & GLENDA ATLAS BERNADETTE BOULLE MEMORIAL FUND SELWYN BRICKMAN CUNNINGHAM FAMILY TRUST SHARLEEN FREDERIKA GARACH CYRIL & ROCHELLE GINSBURG TRUST SHARON MACHUTCHON E R TONNESEN WILL TRUST SHEILA DUCKHAM ENIWE CHILDREN’S FUND SHELLEY WIGET-BEATTIE FRANCES J APPLEBY WILL TRUST SIMON POOLER J E T LEE WILL TRUST SONJA GABEL JACOBUS GRAAFF TRUST FUND STEPHEN INGGS JH RICHARDS WILL TRUST SUE LAMBRECHT M A C FULLER FAMILY TRUST SUSAN BOURNE NAROLLAH TRUST

29 Donor Listing

RAWBONE TRUST ESTATES S A SCHONEGEVEL BENEVOLENT TRUST EST LATE MR M LEVY SHEILA DAKIN WILL TRUST EST LATE SYBIL LEVIN STEENSMA MEMORIAL TRUST EST LATE CAROL ROEHM THE ACKERMAN FAMILY EDUCATIONAL TRUST FUND THE COLIN JOHN CAMPBELL TRUST THE D KING WILL TRUST OTHER THE DIN DIN TRUST THE DOUGLAS JOOSTE TRUST BERGVLIET PRIMARY SCHOOL THE G H STARCK TRUST FUND BISHOPS DIOCESAN COLLEGE PREPARATORY THE ISIDORE CHORITZ TRUST SCHOOL THE LILY ASHTON CHARITABLE TRUST CAPRICORN PRIMARY SCHOOL THE LYNETTE CROUDACE TRUST CEDAR HIGH SCHOOL THE MARY LOUISE FLARRY WILL TRUST GREENFIELD GIRLS’ PRIMARY SCHOOL THE N A VINE TRUST HERSCHEL PREPARATORY SCHOOL THE NICOLA IRVINE TRUST HERZLIA WEIZMAN PRIMARY SCHOOL THE STELLA & PAUL LOEWENSTEIN CHARITABLE & KILDARE PRE-PRIMARY SCHOOL EDUCATIONAL TRUST KRONENDAL PRIMARY SCHOOL THE VERNON BREMRIDGE FAMILY TRUST PELICAN PARK PRIMARY SCHOOL THE VINE CHARITABLE TRUST PENINSULA REGION WOMEN’S COMMITTEE THEODORE SALIE BERWITZ WILL TRUST PINELANDS NORTH PRIMARY SCHOOL THOMAS HENRY MATHERS TRUST REDDAM HOUSE PREPARATORY SCHOOL WILLIAM O’REILLY TRUST SWEET VALLEY PRIMARY SCHOOL THE LUNCHBOX FUND FOUNDATIONS

LEO & PATRICIA FINE FOUNDATION MAUERBERGER FOUNDATION FUND ROLF-STEPHAN NUSSBAUM FOUNDATION THE ACKERMAN FAMILY FOUNDATION THE DAVID GRAAFF FOUNDATION THE KURT & JOEY STRAUSS FOUNDATION THE MANITOU FOUNDATION THE RUBI & ANNE CHAITMAN FOUNDATION

30 Donations in Kind

We would like to thank the following for donating products, time and resources:

31 Voluntary Committee, Members and Staff

COMMITTEE STAFF

Yusuf Kader MANAGEMENT Chairman Mark Walker Director Brian Benatar Morne Goosen Vice Chairman Accountant/Office Manager Bill Fowler Amelia Koeries Operations Manager Honorary Treasurer Charles Grey David Galland Fundraising Manager Honorary Secretary Administration Petrina Pakoe Chantal Crook Anglican Church Representative Donor Administrator Esme Sullivan MEMBERS Bookkeeper Barbara Adams Andrew Kennard Creditors Clerk/School Supplies Coordinator & Receptionist Graham Stark David Phillips General Assistant Andy Tucker Ncedolwetu Vutela Sesi Sekhosana Digital Marketing Intern

Pearl Matolwana Operations Jaco van Tonder Phumelele Ngema Warehouse Manager LIFE MEMBERS Kevin Niekerk Warehouse Supervisor Ian Dichmont Anthea Beukes Field Worker Brem Jackson Cheryl Manuel Ton Weber Field Worker Michelle Solomons Clerk/Data Capturer Vanessa van Rooi Clerk/Data Capturer 32 47 Trill Road, Observatory, 7925 A TRIBUTE TO PO Box 154, Observatory, 7935 Tel: +27 (21) 447 6020 MARK WALKER Fax: +27 (21) 447 6047 e-mail: [email protected] 1954 – 2015 Donation Form

I would like to support the work of the Peninsula School Feeding Association to encourage children to attend school and promote their learning and potential.

❏ I enclose a once-off donation of: R (Cheques must be “Not Negotiable”, & made payable to “Peninsula School Feeding Association”.)

❏ Charge: R to my credit account Master Card ❏ Visa Card ❏ Expiry date: /20 C V V: Signed:

Account No.: